The International Police Organisation (INTERPOL), on Monday, revealed that “hundreds of thousands of dollars” are being laundered out of Nigeria to other African countries and across the world every hour. The organisation also said money laundering across Africa and the entire world has assumed a monstrous dimension, adding that it would require a concerted efforts of every security agencies in Nigeria and other countries to address.
Garba Baba Umar, the INTERPOL Vice President for Africa, revealed this at EFCC Academy, Abuja when he declared a four-day workshop for Nigerian law enforcement agencies open.
Evidence has shown that every hour, hundreds of thousands of dollars are flowing out of Nigeria to the region and across the world, laundered before it reaches the pockets of criminals to enjoy the profits of their crimes, while the hardworking and honest Nigerians pay the price of crime.
With every successful laundering of criminal money, our country becomes more prone to crime. More drugs, more fraud, more corruption and more violence. Every time criminal money is successfully laundered, our financial institutions take an additional blow…” Umar said.
On his part, the Executive Chairman of the EFCC, Ola Olukoyede, harped on the need for enhanced collaboration in tackling financial crimes.
